Start-up Business Plan for Year:
Business Name:
Date:
This template has been aligned with the helpsheet prepared by the Consultative Committee of
Accountancy Bodies - Ireland (CCAB-I) and the Irish Banking Federation. It is designed to facilitate
the use of a common approach, framework and language in the preparation of business plans and
raising of bank finance. See
http://www.ibf.ie/Libraries/Guides_Forms/CCABI_IBF_Business_Plan_Guidance_2012.sflb.ashx for
further details. Reference has also been made to the Mazars Business Plan Template. See
http://www.smallbusinessfinance.ie/tools-and-downloads for further details.
Please note that the template is designed to provide guidance only. No responsibility for loss
occasioned to any person acting, or refraining from action, as a result of the material in this
publication can be accepted by Fáilte Ireland, CCAB-I or the Irish Banking Federation.
The template is set out with essential and desirable elements for completion.
It is recommended that these essential elements are fully completed and form the core of the
business plan.
It is recommended that these desirable elements are completed, as necessary, to provide the
plan’s readers with sufficient information to form an opinion on the business. This is important where
the business is in start-up phase and seeking funding. In all cases where funding is sought, the plan
should be compiled with the assistance and direction of an accountant who will provide the
necessary guidance on the level of detail required.
Start-up Business Plan – Template
Page 1
Table of Contents:
1.
Executive summary
2.
Name of business and contact details
3.
Business owners and/or directors
4.
The business
5.
Products, services, customers and marketing
6.
Staff details
7.
Legal status
8.
Names of advisers
9.
Suppliers
10.
Business assets
11.
Business risks and response to risks
12.
The project
13.
Request for finance
14.
Financial information
Summary of Projections
Business Plan Glossary of Terms
Start-up Business Plan – Template
Page 2
1. Executive Summary
Write your executive summary after you have completed Sections 2 to 14 of this business plan.
Your executive summary should include summaries of the following:
1. Purpose of the plan
2. Market opportunity
3. Management team
4. Track record, if any
5. Financial projections
6. Funding requirements
Write 1 to 3 sentences about each of the above topics. Then finish with a closing sentence or two
that answers the question “Why is this a winning business?”
Your Executive Summary should be no more than 2 pages long.
Remember! Tailor your Executive Summary for your target reader. If the purpose of your business
plan is to attract investors, your summary should focus on the attractive opportunity your business
provides to investors.
Start-up Business Plan – Template
Page 3
2. Name of Business and Contact Details
Provide information about your business and main contact details.
Business name
Legal form of ownership
Business address
Telephone
Business website
Main contact name (Promoter)
Main contact telephone and email
address
3. Business Owners and/or Directors
Background
Provide the name(s) and background information about the owners and/or directors of the business
Qualifications
Provide information on the owners’/directors’ qualifications, experience and skills.
Experience
Provide information on the owner’s knowledge and experience of the industry and work to date on sourcing key
suppliers and staff.
Start-up Business Plan – Template
Page 4
4. The Business
Our business
Provide a brief description of the business: type of business (nature of business/sector operating in, the
business concept) description of property, access, proximity to customers/competitors/ amenities, etc.
Our operations
Describe how the business will operate and include:

opening hours, seasonality, etc.

facilities and resources available to the business

management of quality and service standards

plans for Health and Safety plans for Environmental and Waste Management
Key trends in the sector
Describe how the sector is structured:

large or small businesses,

many or few players,

over/under supply of the type of products/services you propose to offer?

overall growth projections for the sector in your region

supports available for businesses such as yours and how you will maximise your usage of those
supports

the main trade associations and your involvement with them
Our vision for the future of the business
Briefly describe what you ultimately want to achieve in your business.
Our mission for the business
Describe what type of business you will operate as you work towards that vision and outline what you will do
for key stakeholders.
Start-up Business Plan – Template
Page 5
Our goals and overall strategy for the business
Itemise the short and long term, measurable goals you are trying to achieve in areas like sales, profit,
customer satisfaction, employee satisfaction, etc. Describe how you will achieve the defined profitability or
return on investment target.
5. Products and Services, Customers and Marketing
Products and Services
Features of our products and services
Describe the features of the products and services offered: the characteristics and uniqueness of
your planned products/services.
Uniqueness of our products and services
Explain how you will promote and sell the uniqueness of your products and/or services in your sales and
marketing messages to distinguish them from your competition (include reference to telephone, face-to-face
conversation, websites and print communications, as appropriate).
Benefits of our products and services
Describe the benefits of the products and services offered: what the customer has to gain by buying
your products/services (e.g. wellbeing, convenience).
Customers
Our key targeted customer types
Provide information on your key targeted customers. Examples include families, tour groups, corporate clients
and special interest markets, whether from domestic or overseas markets or both.
Start-up Business Plan – Template
Page 6
Our key targeted customer characteristics
Provide further information on your key targeted customers in terms of their characteristics, their geographic
locations, what their buying behaviour is and the proportion of sales to each customer type.
Marketing
Our main marketing activities
Provide a description of the main marketing activities planned showing how the potential of the business will
be translated into sales. Marketing activities may include promotions, advertising and special offers.
Trends in the markets we will operate in
Summarise the trends in the market(s) you will be operating in, including its size and potential.
Research on the markets we will operate in
Provide details on the research carried out in the market(s) you will be operating in.
Our pricing strategy
Describe your pricing strategy in terms of the importance (or otherwise) of pricing as a competitive advantage,
together with the approaches you will adopt when setting prices (mark-up, margin based, value based) and
outline your credit/payment terms.
Our distribution strategy
Describe the main distribution channels associated with your offering (direct to consumer, via travel agents
and/or tour operators) and how you will use those channels to sell your offering to Irish and overseas
customers.
Start-up Business Plan – Template
Page 7
How we will promote our products and services
Summarise your promotions strategy, the channels you will use to reach your target market: this will likely
include engaging in sales, public relations and e-marketing activities:







Sales activities include direct selling and visiting clients
Public relations activities are conducted through the media, e.g. newspapers, television and magazines
E-marketing activities include Facebook campaign and ezine
Maximising the use of website features
Maximising the use of non-paid advertising, e.g. trade shows, word of mouth (how will you stimulate it?),
network of friends or professionals
Maximising the use of other promotional supports, e.g. logo design, cards and letterhead, brochures,
signage, etc.
Complimentary business opportunities, for example, a B&B business operation could collaborate with a
walking tours business operation to provide an accommodation/walking tours package
How we will manage our marketing spend
Provide a forecast and roll out of the expected marketing spend for the first three years in line with your sales
projections.
6. Staff Details
Our management team
Provide the required qualifications and experience of your projected key people and the key functions to which
they will be assigned (e.g. operations, finance, HR, sales, etc.).
Our employees
Give the projected number of employees by function (administration, sales, operations, etc.) and by status
(full- and part-time), their expected skills and experience, together with planned recruitment and training
initiatives.
How we will plan our staffing requirements
Provide a staffing plan of the roles to be filled, and when (bearing in mind expansion of the business), together
with relevant costs of filling these roles. Describe how you will attract and recruit staff and provisions for
relevant training.
Start-up Business Plan – Template
Page 8
7. Legal Status
The legal structure of the business
Describe the legal structure of the business (sole trader, partnership or limited company) and, if appropriate,
an explanation on why you chose that particular legal format. Provide the names and holdings of the
shareholders as well as the directors where the structure is a limited company.
The legislative aspects of the business
Provide details of the legislations and regulations that apply to the operating of the business (planning
requirements, licences, registration, compliance with tax legislation, etc.).
8. Names of Advisors
Name of Accountant
Provide the name of the Accountant you have secured.
Names of other professionals
Provide the names other professionals advising you (solicitors, architects, consulting engineers, etc.), together
with details of government/local support agencies.
Names of strategic partners
Provide the names of strategic partners and their roles where these are key to the business.
Start-up Business Plan – Template
Page 9
9. Suppliers
Key suppliers
Provide the names of your key suppliers to be used, the products/services provided by them and the reasons
for choosing them (as opposed to alternative suppliers). Give details of contracts and terms (payment, delivery,
quality, quantity, etc.) already agreed or to be agreed.
10. Business Assets
Premises
Provide information on the business – its location, the property (and title) and its carrying value (where rented,
provide details of terms, amount of rent payable, frequency of payment, leased term, years
remaining, rent review periods).
Equipment
Provide information on the current and proposed equipment needed (including vehicles, furniture and fittings),
together with details on costs, funding, current value and when it will be fully owned / paid off.
11. Business Risks and Response to Risks
Key risks affecting the business
List the key risks affecting the business and how you propose to respond to them.
Our key competitors and what they offer
List the key competitors (search beyond your local area) and what they are doing to attract customers to their
products and services.
Start-up Business Plan – Template
Page 10
Our competitors' strengths and weaknesses and what we will do to address them
Describe the ways in which your competitors are successful and areas where they weak, in terms of product
offering, price, service, quality, promotions, etc. and the approaches you will take to respond to competitive
pressures. Describe what you will do to consolidate your markets, develop and retain a loyal customer base
and how you will continuously innovate to stay ahead of your competitors.
Our strengths and what we will do to maximise them
Describe your strengths (issues under your control that will make your business successful and
provide a competitive advantage). Examples of business strengths include unique product, access to
finance, contacts, experienced and skilled workforce.
Our weaknesses and what we will do to address them
Describe your weaknesses (issues under your control that will prevent you from doing better business).
Examples of business weaknesses include lack of financial expertise or poor knowledge of marketing.
External opportunities and how we will exploit them
Provide an overview of the external opportunities (issues outside your direct control that can be of benefit to
your business). Examples of external opportunities include changes in customer spending patterns and new emarketing methods.
External threats and what we will you do to address them
Provide an overview of the external threats (issues outside your direct control that have negative consequences
for your business). Examples of external threats include the arrival of strong new competitors, worsening
economic conditions, escalating costs and increased regulation.
Other risks and what we will you do to address them
Identify other potential risks that the business may face (e.g. exposure to foreign exchange or interest rate
fluctuations) and describe what you will do to minimise the impact of these risks (e.g. insurance cover if
appropriate).
Start-up Business Plan – Template
Page 11
12. The Project
Key milestones
Outline the key milestones of the business, with particular emphasis on the stages of development. This could
include construction timelines, kit-out, staged opening and further development plans. Include your break even
timeline here. Refer to headings 5 to 11 where this is a new project within an existing business.
Breakeven sales calculator
http://www.failteireland.ie/Business-Tools/Calculator-Tools/What-s-my-Break-EvenPoint.aspx
13. Request for Finance
Financial requirement
Provide details of the amount and timing of finance requested, together with a proposed repayment schedule.
Uses of finance
Provide a detailed description of how funds will be spent and, in the case of loans and other credit, how and
when repayment will be funded.
Sources of finance
Outline any other sources of finance being requested or approved such as investment by the promoter, grant
aid, etc. that will supplement the credit finance being sought.
Start-up Business Plan – Template
Page 12
14. Financial Information
Current financing arrangements
Provide information on the current financing arrangements:




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
Names of current lenders
Amounts and terms of loans
Maturity of loans
Covenants
Security and guarantees
Internally generated capital including directors’ loans, and terms attaching to these, shareholdings and
reserves
Other sources
Projected financial statements
Provide projected financial statements for an appropriate number of years:



Profit and loss accounts
Balance sheets
Cash flow statements, indicating peak borrowing requirements
Key assumptions
Outline the key assumptions made by you in relation to the financial information.
Gross profit margin
Show the gross profit margin you expect for each key product/service. The Gross Profit Margin is the
percentage profit a business makes on a sale. Gross profit is sales revenue less the cost of sales.
Gross profit margin calculator
http://www.failteireland.ie/Business-Tools/Calculator-Tools/Gross-Margin-Calculator.aspx
Credit policy
Outline your credit policy relating to Debtors and Creditors.
Start-up Business Plan – Template
Page 13
Major expenses
List your major expenses such as payroll, rent, raw materials etc.
Scenario analysis
Carry out a scenario analysis on the projected financial statements to demonstrate key variations of
assumptions, such as variations of sales figures by factors such as 10% or 20%, or variations caused by risk
factors identified above.
Start-up Business Plan – Template
Page 14
Summary of Projections
Profit & Loss
Year 1
Year 2
€'000
€'000
Sales
Cash flow
Year 1
Year 2
€'000
€'000
Year 1
Year 2
%
%
Opening balance
Cost of Sales
Gross Profit
Inflows
Overheads
EBITDA
Outflows
Depreciation
Interest / Charges
Taxation
Net profit/(loss)
Balance Sheet
Closing Balance
Year 1
Year 2
€'000
€'000
Fixed Assets
Ratios
Current Ratio
Quick Ratio
Current Assets
Working Capital:
Sales Revenue
Current Liabilities
Debtors : Creditors
Ratio
Net Current Assets
As a ratio of Sales:
Long-term
Liabilities
EBITDA
%
%
EBIT
%
%
Profit before tax
%
%
PAT
%
%
Net Assets
Start-up Business Plan – Template
Page 15
Business Plan Glossary of Terms
Activity (Key): anything undertaken within a business which is deemed important to achieving its
aims and objectives.
Amortisation: preferred term for the apportionment (charging or writing off) of the cost of an
intangible asset as an operational cost over the asset's estimated useful life. It is identical to
depreciation, the preferred term for tangible assets.
Annual Report: a document which summarises business performance and achievements over a
stated year, including key financial reports.
Benchmarking: the act of externally comparing a business’ results (performance benchmarking)
with accepted norms; it may also entail comparing a key business activity (process benchmarking)
with other entities which are deemed to deliver best practice in that area.
Benefit: desirable attribute of a product or service, which a customer perceives he or she will get
from purchasing.
Business Plan: a detailed document (usually short or medium-term focused) which is developed to
guide business activities and to outline the actions to be taken over the period in order to implement
strategies to achieve the strategic goals and objectives. Financial projections are also included.
Business Planning: the structured activity of undertaking the necessary research and analysis in
order to define the direction for the business, usually culminating in the development of a strategic or
business plan.
Challenges: key internal and external issues, problems and opportunities facing the company at any
given time.
Credit Policy: clear, written guidelines that set (1) the terms and conditions for supplying goods on
credit, (2) customer qualification criteria, (3) procedure for making collections, and (4) steps to be
taken in case of customer failure to pay.
Current Asset: an asset such as receivables, inventory, work in process, or cash, that is constantly
flowing in and out of an organisation in the normal course of its business, as cash is converted into
goods and then back into cash. In accounting, any asset expected to last or be in use for less than
one year is considered a current asset.
Current Liabilities: obligations such as trade credit and unpaid taxes arising in the normal course of
a business and due for payment within a year.
Current Ratio: indicator of a company’s ability to meet short-term financial obligations, it is the ratio
of current assets to current liabilities. Formula: Current assets ÷ Current liabilities.
Depreciation: the gradual conversion of the cost of a tangible capital asset or fixed asset into an
operational expense (called depreciation expense) over the asset's estimated useful life.
Distribution Strategy: a plan that specifies how the business intends to make customers aware of
its products and services.
EBITDA: computed by subtracting cost of sales and operating expenses (but not amortisation and/or
depreciation, interest, and taxes) from total revenue.
Executive Summary: section of the business plan that should be completed after the business plan
is written. It highlights all milestones in the company’s development over the next three years.
Start-up Business Plan – Template
Page 16
Financial Statement: summary report that shows how a business has used or will use (projected)
the funds entrusted to it by its shareholders and lenders, and what is its current financial position.
The three basic financial statements are the (1) profit & loss account, which shows how the net
income of the business is arrived at over a stated period, (2) balance sheet, which shows the
business’ assets, liabilities, and net worth on a stated date and (3) cash flow statement, which shows
the inflows and outflows of cash caused by the business’ activities during a stated period.
Fixed Asset: an asset that is not consumed or sold during the normal course of business, such as
land, buildings, equipment, machinery, vehicles, leasehold improvements, and other such items.
Fixed assets enable their owner to carry on its operations.
Goal: an observable and measurable end result having one or more objectives to be achieved within
a more or less fixed timeframe.
Gross Profit Margin: a measure of a company's profitability that is expressed as a percentage of
gross profit. It is calculated by dividing gross profit by revenue.
Indicator (Key Performance): a strategically important measure used to monitor business
performance; may be both financial and non-financial in nature.
Milestone: an indicator of progress denoting an achievement to date.
Mission: a statement of intent by a business as to how it will conduct its operations with regard to
key stakeholders such as investors, customers and employees.
Objective: an end that can be reasonably achieved within an expected timeframe and with available
resources. In general, an objective is broader in scope than a goal, and may consist of several
individual goals.
Opening Balance: balance brought forward at the beginning of a new accounting period, on the
credit or the debit side of the ledger.
Parameters: the constraints within which specific actions must be taken or decisions must be made.
PEST Analysis: a planning tool used to help identify the future Political, Economic, Social and
Technological influences on a business.
Policy: a general statement outlining a course of action to be taken in order to achieve a defined
objective (s).
Product Features: a function of a product which is capable of satisfying a particular consumer need
and is seen as a benefit of availing of the product/service. In business, a product feature is one of the
distinguishing characteristics of a product or service that helps boost its appeal to potential buyers,
and might be used to formulate a product marketing strategy that highlights the usefulness of the
product to targeted potential consumers.
Quick Ratio: an indicator of a company's short-term liquidity. The quick ratio measures a
company's ability to meet its short-term obligations with its most liquid assets. The higher the quick
ratio, the better the position of the company. The quick ratio is calculated as: Current Assets –
Inventories divided by Current Liabilities. Also known as the "acid-test ratio".
Risk: the probability that an actual return on an investment will be lower than the expected return.
Scenario Analysis: scenarios are used in estimating the probable effects of one or more variables on
the business plan.
Stakeholder: any group or individual with an interest in, or an influence on the operation of a
particular business.
Standard: a statement of the specific outcome required following the completion of a particular task.
Start-up Business Plan – Template
Page 17
Strategic Plan: a master plan for a business which defines its vision and mission, strategic goals and
the general strategies to be followed to achieve those goals.
Strategy: a specific set of longer-term actions which are designed to achieve the aims and objectives
of a business.
SWOT analysis: a planning tool for considering the internal Strengths, Weaknesses, Opportunities
and Threats facing a business.
Target: a defined outcome to be achieved which is measurable, time-limited, and related to a
broader aim or objective.
Uniqueness: (USP) real or perceived benefit of a product or service that differentiates it from the
competition and gives its buyer a logical reason to prefer it over other products or services.
Vision: a general statement which captures the ideal long term hopes and aspirations for the
development and growth of a business.
Start-up Business Plan – Template
Page 18